Nestlé India and Dr. Reddy’s announced that they have entered into a definitive agreement to form a joint venture (JV Company) to bring innovative nutraceutical brands to consumers in India and other agreed territories.
According to a joint statement, the partnership will bring together the global range of nutritional health solutions as well as vitamin, minerals, herbals and supplements of Nestlé Health Science (NHSc) with the commercial strengths of Dr. Reddy’s in India.
The JV Company will be headquartered in Hyderabad and it is expected to become operational in the second quarter of the financial year 2024-2025.
Both the companies believe that this partnership will help them combine their strengths and grow their complementary nutraceuticals portfolios in categories such as metabolic, hospital nutrition, general wellness, women’s health and child nutrition for consumers across India.
The venture will leverage the capabilities as well as services of the Nestlé Group and Dr. Reddy’s. Select brands will be licensed by the JV Partners to the JV company.
While the Nestlé Group will license brands such as Nature’s Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal and Resource Dialysis, Dr. Reddy’s will license brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, Becozinc in the nutrition, and OTC segments.
Commenting on the JV initiative, Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “Dr. Reddy’s is a trusted name in the pharmaceutical space and shares our commitment to provide access to high quality products. This joint venture will enable us to build a robust retail and distribution network to take our brands closer to consumers and making a meaningful difference to improve the quality of life.”
M V Ramana, CEO – Branded Markets (India and Emerging Markets), Dr. Reddy’s said, “This joint venture is a novel approach by two companies that have a shared purpose of good health. We are pleased to partner with Nestlé India to bring innovations from the Nestlé Health Science global portfolio to consumers in India. This novel approach of leveraging mutually complementary strengths of both parent companies will enable better access and affordability for consumers.”
